Mooring Capital Fund, a hedge fund that specialises in the acquisition and management of distressed commercial loans, has reported a 21.1 per cent net return to investors for the year ended 31 December, 2015.
Mooring Capital Fund has now produced a cumulative total return of 611.3 per cent net of fees over the 16.5 years since inception.
Mooring Capital Fund’s performance in 2015 and since inception has outperformed the S&P500, the Dow Jones Hedge Fund Index and the HFRX Global Hedge Fund Index. For 2015, the S&P500 Index reported a total return of 1.4 per cent. The Dow Jones Hedge Fund Index and the HFRX Global Hedge Fund Index delivered negative returns of -0.7 per cent and -3.6 per cent, respectively, for that period.
Mooring Financial Corporation President and Chief Executive Officer John Jacquemin (pictured) says: “Mooring Capital Fund has delivered stable and positive investor returns through multiple economic cycles. From the very beginning we have taken an opportunistic yet long-term approach to our business. A well-diversified portfolio, thorough due diligence, and a hands-on focus on our assets have been keys to our success. Continued economic growth in 2015, brightening real estate fundamentals, and borrowers’ access to cheap debt also contributed to Mooring Capital Fund’s healthy performance in 2015.”
Mooring Capital Fund invests primarily in sub-performing and nonperforming commercial loans secured primarily by a variety of commercial real estate assets. The portfolio has included loans secured by office buildings, retail centres, religious facilities, flex and warehouse space, multifamily, assisted living facilities, aircraft and marine vessels, agricultural assets, land and educational, sports and recreation facilities. These assets are located throughout the U.S. and internationally with a concentration in the mid-Atlantic and southeast regions. Total assets were approximately $60 million at year-end 2015.
